Franklin Resources Inc. lessened its stake in shares of AXIS Capital Holdings Limited (NYSE:AXS - Free Report) by 3.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 357,135 shares of the insurance provider's stock after selling 14,422 shares during the quarter. Franklin Resources Inc. owned approximately 0.43% of AXIS Capital worth $31,649,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Meeder Asset Management Inc. raised its position in AXIS Capital by 719.8% in the fourth quarter. Meeder Asset Management Inc. now owns 19,569 shares of the insurance provider's stock valued at $1,734,000 after purchasing an additional 17,182 shares during the last quarter. California Public Employees Retirement System raised its holdings in AXIS Capital by 1.7% in the 4th quarter. California Public Employees Retirement System now owns 357,074 shares of the insurance provider's stock valued at $31,644,000 after buying an additional 6,017 shares during the last quarter. Schroder Investment Management Group boosted its position in AXIS Capital by 4.1% during the 4th quarter. Schroder Investment Management Group now owns 329,532 shares of the insurance provider's stock worth $29,108,000 after buying an additional 13,018 shares during the period. Intrust Bank NA grew its holdings in AXIS Capital by 4.9% during the 4th quarter. Intrust Bank NA now owns 5,872 shares of the insurance provider's stock worth $520,000 after acquiring an additional 276 shares during the last quarter. Finally, Pictet Asset Management Holding SA increased its position in AXIS Capital by 10.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 11,406 shares of the insurance provider's stock valued at $1,011,000 after acquiring an additional 1,056 shares during the period. 93.44% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts recently weighed in on AXS shares. UBS Group boosted their price objective on shares of AXIS Capital from $105.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday. StockNews.com cut AXIS Capital from a "buy" rating to a "hold" rating in a research note on Friday, April 4th. Keefe, Bruyette & Woods reduced their target price on AXIS Capital from $120.00 to $114.00 and set an "outperform" rating on the stock in a report on Wednesday. BMO Capital Markets began coverage on shares of AXIS Capital in a report on Monday, January 13th. They set a "market perform" rating and a $93.00 price target for the company. Finally, Wells Fargo & Company decreased their price objective on shares of AXIS Capital from $89.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $101.88.
Check Out Our Latest Stock Report on AXS
AXIS Capital Stock Down 1.9 %
Shares of NYSE:AXS traded down $1.80 during trading on Thursday, reaching $91.79. 105,737 shares of the stock were exchanged, compared to its average volume of 755,428. The stock has a fifty day moving average of $93.89 and a two-hundred day moving average of $88.89. AXIS Capital Holdings Limited has a 1-year low of $60.44 and a 1-year high of $101.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.60 and a quick ratio of 0.60. The firm has a market cap of $7.42 billion, a price-to-earnings ratio of 7.44, a price-to-earnings-growth ratio of 3.96 and a beta of 0.67.
AXIS Capital (NYSE:AXS - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The insurance provider reported $2.97 earnings per share for the quarter, beating analysts' consensus estimates of $2.68 by $0.29. AXIS Capital had a net margin of 18.16% and a return on equity of 18.89%. Research analysts anticipate that AXIS Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.
AXIS Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 1.92%. The ex-dividend date is Monday, March 31st. AXIS Capital's dividend payout ratio (DPR) is presently 14.25%.
Insiders Place Their Bets
In related news, Director Charles A. Davis sold 2,234,636 shares of the company's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $89.50, for a total transaction of $199,999,922.00. Following the sale, the director now owns 4,543,170 shares of the company's stock, valued at approximately $406,613,715. This represents a 32.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.50% of the stock is owned by corporate insiders.
About AXIS Capital
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Free Report)
AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.
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